The IEA predicts that global energy emissions will peak in 2025

The International Energy Agency said on Thursday that it believes global energy emissions will peak in 2025 as rising prices due to Russia’s invasion of Ukraine spur investment in renewable energy.

Just last year, the IEA stated that “no clear peak is visible”. energy emissionsbut new, higher investment in wind and solar drives demand for all fossil fuels to a peak or plateau, leading to lower emissions.

“The global energy crisis caused by Russia’s invasion of Ukraine is causing deep and lasting changes that could accelerate the transition to a more sustainable and secure energy system,” the IEA said in its latest annual World Energy Outlook. .

Based on recent measures and policies announced by governments amid soaring energy prices, the IEA predicts that global investment in clean energy will grow by more than 50 percent from today’s levels to $2 trillion a year by 2030.

These measures will promote sustainable growth in renewable energy atomic energy.

“As a result, the maximum level of global emissions will be reached in 2025,” the IEA noted.

World energy company CO₂ By 2050, emissions will slowly decline from 37 billion tons per year to 32 billion tons per year.

The Paris-based organization, which advises energy-consuming countries, said it sees demand for all fossil fuels peaking or ceasing in its forecast.

Coal use, which has temporarily increased, will decline again in the next few years as more renewables come online.

Natural gas plateaus at the end of the decade instead of the previous forecast of steady growth.

Oil demand levels off in the mid-2030s and then gradually declines by mid-century due to the spread of electric vehicles instead of earlier estimates of steady growth.

In general, the share of fossil fuel in the global energy balance will fall from about 80 percent to just over 60 percent by 2050 in the IEA’s stated policy scenario.

Energy markets have “changed”

“Energy markets and politics have changed as a result of Russia’s invasion of Ukraine, not just for now, but for decades to come,” IEA Executive Director Fatih Birol said in a statement after the report was released.

But it will still leave the world on a growth path global temperatures about 2.5 degrees Celsius by the end of the century, which is likely to cause severe climate change effects.

The IEA also has a scenario of achieving net zero emissions by 2050, which is considered necessary to meet the 1.5 degrees Celsius warming target set out in the Paris Climate Agreement.

This would require clean energy investment to grow to $4 trillion a year by 2030, up from the current $2 trillion forecast.

“The IEA, with all its experience and authority, is clear: investment in clean energy must triple by 2030, and gas is a dead end,” said Laurence Tubiano, head of the European Climate Fund and former French climate ambassador.

“The current European energy The crisis clearly shows the dangers of gas: high price, volatility, geopolitical dependence,” she added.

© 2022 AFP